2024-01-17T17:20:30-06:00 2023-08-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2022-09-01 876426781 KENTUCKY ASSOCIATION OF MANUFACTURERS GROUP INSURANCE TRUST KYAS 5023522485 P O BOX 4029 FRANKFORT KY 406044029 SHELLEY GOODWIN TRUSTEE 5023522485 2024-01-16 1 SHELLEY GOODWIN XXX-XX-XXXX 0 KAREN COLSCH CPA P00106450 7049985200 2024-01-16 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X SHELLEY GOODWIN P O BOX 4029 FRANKFORT KY 406044029 9690106 0 X HTTPS://KAM.US.COM/MEMBER-BENEFITS/ X 2021 KY TO PROVIDE GROUP HEALTH INSURANCE AND OTHER WELFARE BENEFITS 4 4 0 0 0 0 0 0 10338533 9690106 0 0 30679 0 10369212 9690106 0 0 9937741 9343336 0 0 0 0 0 360271 321092 10298012 9664428 71200 25678 849241 757342 778041 660464 71200 96878 X TO PROVIDE GROUP HEALTH INSURANCE AND OTHER WELFARE BENEFITS TO THE MEMBERS AND EMPLOYEES OF THE KENTUCKY ASSOCIATION OF MANUFACTURERS (KAM), AS WELL AS QUALIFYING DEPENDENTS OF KAM, BY ISSUANCE OF ONE OR MORE FULLY INSURED INSURANCE POLICIES. 0 0 BEGINNING SEPTEMBER 1, 2021, KAM BEGAN PROVIDING GROUP HEALTH INSURANCE AND OTHER WELFARE BENEFITS TO THE MEMBERS AND EMPLOYEES OF KAM, AS WELL AS QUALIFYING DEPENDENTS OF KAM, BY ISSUANCE OF ONE OR MORE FULLY INSURED INSURANCE POLICIES. THE TRUST PROGRAM IS OVERSEEN BY AN ELECTED BOARD OF TRUSTEES (TRUSTEES). THE TRUSTEES TOGETHER WITH THE KAM PERFORM ALL OF THE ACTIVITIES REQUIRED TO ADMINISTER THE TRUST AND MAKE DECISIONS ON THE ON-GOING OPERATIONS OF THE TRUST IN THE BEST INTEREST OF THE PARTICIPANTS.THE PROGRAM ACTIVITIES INCLUDE THE FOLLOWING:-- THE SELECTION OF INSURANCE CARRIERS, BENEFIT PLANS AND BENEFIT LEVELS IN SOME SITUATIONS;-- THE SELECTION AND APPOINTMENT OF VENDORS INCLUDING BANKING SERVICES, CONTRACT ADMINISTRATOR, INVESTMENT MANAGER IF NEEDED, AUDITOR, AND ATTORNEY;-- THE SALES, AND MARKETING OF THE PROGRAM INCLUDING THE DEVELOPMENT OF COMMUNICATION MATERIALS, AND THE USE OF OUTSIDE SALES AGENTS IF NEEDED; AND-- THE GENERAL MANAGEMENT OF TRUST FUNDS AND ASSETS. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 2 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X SHELLEY GOODWIN 5023522485 P O BOX 4029 FRANKFORT KY 406044029 FRANK JEMLEY TRUSTEE 0.50 X 0 120000 19877 SHELLEY GOODWIN TRUSTEE 1.00 X 0 74528 1710 CARYN DICKINSON TRUSTEE 0.50 X 0 0 0 MICK HENDERSON TRUSTEE 0.50 X 0 0 0 0 194528 21587 0 0 0 0 CAPSTONE ADMINISTATORS 6110 TECHNOLOGY CENTER DRIVE SUITE INDIANAPOLIS IN 46278 CONTRACT ADMINISTRATOR 186050 1 EMPLOYER CONTRIBUTIONS 525100 9635342 9635342 COBRA CONTRIBUTIONS 525100 54764 54764 9690106 9690106 9690106 0 0 9343336 186029 18943 14910 2046 72104 CONSULTING AND INSURANC 14939 ADVISOR FEE 12078 COMMISSIONS 43 9664428 807558 750977 39427 3879 2256 2486 849241 757342 51868 34568 239895 169730 486278 456166 778041 660464 X 0 0 0 0 71200 96878 71200 96878 849241 757342 25678 0 X X 0 1 X 1 0 0 INSURANCE RESERVE 456166 456166 X 9690106 0 9690106 0 9690106 9664428 0 9664428 0 9664428 PART X, LINE 2: THE VEBA TRUST FUNDING CERTAIN BENEFITS OF THE PLAN RECEIVED AN EXEMPTION LETTER FROM THE IRS DATED NOVEMBER 29, 2022, STATING THAT THE TRUST IS TAX-EXEMPT UNDER THE PROVISIONS OF SECTION 501(C)9 OF THE IRC. HOWEVER, AS A RESULT OF THE PLAN'S FUNDING POLICY, FROM TIME TO TIME THE TRUST MAY BE SUBJECT TO INCOME TAXES. NO FEDERAL OR STATE INCOME TAXES HAVE BEEN RECORDED FOR THE YEAR ENDED AUGUST 31, 2023 FOR UNRELATED BUSINESS TAXABLE INCOME. IN ADDITION, THE TRUST AND THE VEBA TRUST ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE IRC TO OBTAIN TAX-EXEMPT STATUS OF THE TRUST. THE TRUST ADMINISTRATOR BELIEVES THAT THE TRUST IS BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC, AND THEREFORE, BELIEVES THAT THE TRUST QUALIFIES FOR TAX-EXEMPTION. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE TRUST MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE TRUST AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE TRUST HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE TRUST IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM, THEN THE EXECUTIVE DIRECTOR REVIEWS THE FORM 990, AND THEN PROVIDES A COPY OF THE FORM 990 TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. 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